Snap-On (SNA) Tops Q1 EPS by 6c

Snap-On (NYSE: SNA) reported Q1 EPS of $2.79, $0.06 better than the analyst estimate of $2.73. Revenue for the quarter came in at $935.5 million versus the consensus estimate of $927.13 million.

Outlook

Snap-on expects to make continued progress in 2018 along its defined runways for coherent growth, leveraging capabilities already demonstrated in the automotive repair arena and developing and expanding its professional customer base, not only in automotive repair, but in adjacent markets, additional geographies and other areas, including extending in critical industries, where the cost and penalties for failure can be high. In pursuit of these initiatives, Snap-on expects that capital expenditures in 2018 will be in a range of $90 million to $100 million, of which $18.0 million was incurred in the first quarter.

As a result of the recently enacted tax legislation in the U.S., Snap-on currently anticipates that its full year 2018 effective income tax rate will be in a range of 24% to 25%.

For earnings history and earnings-related data on Snap-On (SNA) click here.

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